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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (41100)	9/9/2005 10:52:20 AM
From: Hope Praytochange	Read Replies (2) \| Respond to of 306849

While talk of a real estate bubble is rampant these days ("Mr. Housing Bubble" T-shirts are being sold on the Internet), these top markets have continued to appreciate - most saw double digit gains last year - though in some places more slowly than in recent years. The median home price in Water Mill climbed 31 percent to nearly $1.6 million last year compared with the year before. Though that would still be considered a huge increase at nearly any other time and place, it's down from the 50 percent surge in 2003. Have these markets peaked? Mike Sklarz, head of analytics at Fidelity, who conducted the study for The Times, doesn't think so. "No one really knows when the market will peak," he said. The significant run-up in prices could mean a slowdown as towns get too pricey for all but a small segment of second-home buyers. But Mr. Sklarz said that a number of long-term underlying factors, including heightened interest in real estate investing and strong demand from baby boomers approaching retirement age "tend to be quite positive." nytimes.com